Some Things To Do To Quickly Increase Business Income

  1. Cut out the lowest profit, time, or resource consuming activities and invest more in the highest pay-off activities. I know owners who love to spend time on the computer browsing the web for information when they could be talking to their best customers and prospects instead.
  2. Increase the frequency with which your clients purchase your products and services – increase repeat business. Give them a reason to buy again soon. Follow up with every customer who buys from you – and everyone that doesn't. This doesn't have to be used only in B2C but can also be used successfully in B2B sales.
  3. Raise your fees or prices without sacrificing sales volumes. You should be raising prices a little bit on a regular basis. People hate being hit with a big price raise even if you haven't raised them in years. Better to do it regularly.
  4. Increase your number of clients – preferably with little cost to you. Referrals, write articles, speak, network, volunteer for boards, do some pro bono work, give back to your community.
  5. Propose an "Up-selling Offer" in every transaction. Ever notice how when you buy a man's suit the salesperson will always up-sell you to two suits for a much better price per unit. Plus, there are the shirts, ties, and other accessories. Apply the same concept to your business.
  6. Create a paid membership club – It's a lot easier and more cost effective to sell people who are already aware of your products and services than finding new customers. They already like and trust you. Reward them with a good deal for being a member of your club. It gives you regular, predictable income and creates a sense of family and community.
  7. License or franchise (I like licensing) your products or services. You've got a great idea that you use in your geography. Why not find other companies like yours who would be willing to pay a license fee for the materials, marketing, methodologies, etc. in order to increase their own income?
  8. Create relationships with other companies where they sell your products or services and vice versa. 
  9. Start an affiliate program where other companies sell your products and services. This is different than the relationship program which is more symbiotic in nature. An affiliate usually has their own business and wishes to add to their own product or service line without adding the cost of development, inventory, etc. Basically, they act as a rep for your company.
  10. Increase your operational efficiencies. However, don't fire the person
    who answers the phone unless its desperation time. Better to use the
    other nine ideas first than for you, the owner, to be spending time
    doing tasks you can have someone else do at a better cost. What is your
    time worth?

Leave a Comment

Your email address will not be published. Required fields are marked *

People do business with people that they know, like, and trust. Since we can’t pick or choose the “type” of person we are most likely to trust and like right away, we need to learn how to effectively with everyone’s personality style.” Learn how in this report and start increasing your sales right away!

Selling To The Four Personality Types

Share via
Copy link
Powered by Social Snap